Market leadership occurs when:
A) a firm is the number one or the number two firm in an industry or niche market in terms of net profits
B) a firm is one of the top five firms in an industry or market niche in terms of sales volume
C) a firm earns twice as much as its closest competitor
D) a firm sells twice as much as its closest competitor
E) a firm is the number one or the number two firm in an industry or niche market in terms of sales volume

Question

Quizplus · Accepted Answer

Market leadership is achieved when a firm is the number one or the number two firm in an industry or niche market in terms of sales volume. While net profits and sales volume may be important factors in determining a firm's success, market leadership specifically refers to a company's position in terms of sales volume within their industry or market niche. Therefore, option E - a firm is the number one or the number two firm in an industry or niche market in terms of sales volume - is the best choice.

Market Leadership Occurs When